Lbp Am Sa Decreases Stock Position in The Allstate Corporation $ALL

Key Points

• Lbp Am Sa significantly decreased its stake in The Allstate Corporation by 69.9% during the 2nd quarter, resulting in ownership of 8,928 shares valued at approximately $1.8 million.
• Despite reporting a quarterly earnings per share of $5.94, which exceeded analysts' expectations of $3.20, Allstate's revenue for the quarter was below forecasts at $15.05 billion versus an expected $16.59 billion.
• The company recently declared a quarterly dividend of $1.00, translating to an annualized dividend of $4.00 and a yield of 1.9%, with a payout ratio of 18.81%.

Lbp Am Sa cut its position in The Allstate Corporation (NYSE:ALL - Free Report) by 69.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,928 shares of the insurance provider's stock after selling 20,750 shares during the quarter. Lbp Am Sa's holdings in Allstate were worth $1,797,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arlington Trust Co LLC boosted its stake in Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. Hughes Financial Services LLC bought a new position in Allstate during the 1st quarter valued at $28,000. Meeder Asset Management Inc. boosted its stake in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in Allstate during the 1st quarter valued at $43,000. Finally, 1 North Wealth Services LLC bought a new position in Allstate during the 1st quarter valued at $51,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Down 0.3%

Allstate stock opened at $210.00 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.70. The firm's 50-day moving average is $204.42 and its 200-day moving average is $201.01. The company has a market cap of $55.34 billion, a P/E ratio of 9.87, a PEG ratio of 0.83 and a beta of 0.38.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. During the same quarter last year, the company earned $1.61 EPS. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, August 29th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, August 29th. Allstate's dividend payout ratio (DPR) is 18.81%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays reiterated an "underweight" rating and set a $198.00 price objective (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Evercore ISI set a $233.00 price objective on shares of Allstate and gave the company an "in-line" rating in a research note on Wednesday. Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $260.00 price target (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $231.56.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.

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